Final Results
An excellent year with pro forma Headline profit before tax up 21%
Highlights: 13 months to 2 May 2015
• Group like-for-like revenue(3) up 6% (UK & Ireland up 8% and Nordics up 4%)
• Strong profit performance:
- Group pro forma Headline PBT(1) of £381 million (2013/14: £316 million), up 21%
- Group pro forma Headline basic EPS(1) (2) 25.5p (2013/14: 20.5p)
- Total statutory profit of £97 million (2013/14: £48 million) after Non-Headline(1) charges of £188 million (2013/14: £55 million) which include a loss from discontinued operations of £114 million (2013/14: £10 million)
• Strong balance sheet with year end pro forma net debt of £260 million(8)
• Final dividend of 6.0p (2013/14: 4.0p) proposed, taking total dividends for the year to 8.5p (2013/14: 6.0p), up 42% year-on-year
• Integration progressing well, expecting to deliver at least £80 million of synergies by 2016/17, one year ahead of plan
• Disposals of non-core operations in France, Germany, the Netherlands and Portugal
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